Pencil Finance Secures US$10 Million to Launch Student Loan Financing on Blockchain

Pencil Finance, a decentralized lending protocol that brings student loan financing onto the blockchain via EDU Chain, has secured a US$10 million investment from Open Campus and Animoca Brands. This funding will be utilized to provide liquidity for loans on the platform, expanding access to education financing through Web3 technology. The move comes as recent policy changes in the U.S. could increase student loan defaults, highlighting the need for accessible and transparent solutions like Pencil Finance.